$BTC 4-hour chart is still moving down. A while back, it had a bearish CHoCH, and price is now at the 39% level of the 4-hour range—not particularly high or low. The daily chart continues to move sideways.
Sentiment is pretty interesting: 61.9% of accounts across the market are long, and the whale long/short ratio is 1.53. The funding rate is 0.0018%, about the same as the 7-day average. Open interest is declining, volume is average, and the taker buy/sell ratio is 0.982. It looks like the bulls are still holding their positions, but not much new money is coming in. At a level like this, lots of people want to buy the dip but are afraid of catching a falling knife. I get it—I’ve been watching it so long I’m starting to get sleepy too.
My plan is simple: I won’t touch it until the structure gives a confirmed retest. I’ll wait for a signal, then put my stop where it belongs. I feel pretty calm right now, just a little tempted to trade, and I’m forcing myself to hold back. What do you think of this move?
#BTC #MarketAnalysis
This is only a personal trading record and does not constitute investment advice.
Sentiment is pretty interesting: 61.9% of accounts across the market are long, and the whale long/short ratio is 1.53. The funding rate is 0.0018%, about the same as the 7-day average. Open interest is declining, volume is average, and the taker buy/sell ratio is 0.982. It looks like the bulls are still holding their positions, but not much new money is coming in. At a level like this, lots of people want to buy the dip but are afraid of catching a falling knife. I get it—I’ve been watching it so long I’m starting to get sleepy too.
My plan is simple: I won’t touch it until the structure gives a confirmed retest. I’ll wait for a signal, then put my stop where it belongs. I feel pretty calm right now, just a little tempted to trade, and I’m forcing myself to hold back. What do you think of this move?
#BTC #MarketAnalysis
This is only a personal trading record and does not constitute investment advice.